In a bid to retrieve the state from infrastructural ruins and accelerate its economic development, the Abia State governor, Dr. Alex Otti, has said his administration is open to partnering serious-minded investors for infrastructural financing with concessionary options.
The governor spoke recently when he received in the audience a delegation of FUNGTAI Engineering Company Nig. LTD, led by the Director of Projects, Dr. Cyril Christopher, who paid him a business visit to present their proposal to build sports infrastructures in the state.
Governor Otti said, “My preference is to deal with a partner that comes up with the funding and then we can now look at the concession agreement.
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“That would be my preference. And, once you come up with that kind of proposal, you have put yourselves ahead of others. Even in housing estates, we have something like that.”
The governor called on FUNGTAI Engineering Company Limited to look beyond sports infrastructure to explore other sectors like real estate where the state is planning to develop smart cities and high end estates for Abians in diaspora, professionals within and outside the state.
Governor Otti said the state would contribute in the aspect of providing lands which constitute up to twenty to thirty percent (20 – 30 %) gross.
“Our contribution is always land which sometimes comes up to 20 – 30% of gross,” Otti stated.
Earlier in his speech, Dr. Cyril Christopher said they came to present a proposal for the building of a 40,000-FIFA standard capacity stadium with foundation expandable to 80 capacity. He also said they were interested in the rebuilding of Nsulu Games Village. Dr. Cyril said their company is seventy percent Nigeria owned with offices across the globe. The company is currently developing the multi-billion dollar new FESTAC City. He thanked the governor for giving them the opportunity to showcase their company and proposed projects to the state. @Daily Independent